Crypto

The strategy doubles the Bitcoin purchase plan at $ 84 billion despite the loss of 1Q

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The strategy said that it will double its capital lifting plan at $ 84 billion to buy more bitcoin, even after posting a record loss of $ 4.2 billion in the first quarter.

In a May 1st profit callBitcoin Buying Company, previously known as Microstrategy, said income of $ 111.1 million for the first quarter, down 3.6% compared to the same quarter last year and well below 5% of Wall Street analysts.

The net loss of $ 4.2 billion in the strategy, caused by an accounting revision that shows the company's bitcoin assets, assessed at market prices, was about $ 16.49 per diluted share, well above the loss of 11 cents per share of analysts.

Double strategy the capital lift plan to buy more bitcoin

Despite the drop in income and the loss of the first quarter, Strategy said a return at the start of the year (YTD) of 13.7% on its BTC participations. The company said that its YTD yields for its stock Bitcoin is equivalent to a gain of more than 61,000 BTC worth around 5.8 billion dollars.

Bitcoin performance and gain are unofficial accounting measures that the strategy uses to assess the performance of its aggressive acquisition of the main crypto.

Financial director Andrew Kang said the goal was to increase yield to 25%.

To achieve the higher return and Bitcoin goal, the company said in the appeal that it would double its plan of 21/21 increase in $ 42 billion and $ 42 billion with fixed income to buy more bitcoin.

The strategy accumulates 27% ytd

The call for profits was followed by a slight increase in strategy actions (MSTR), according to Google Finance. However, this gain was erased in trading after opening hours. Despite this, the actions of the company are still up more than 27% YTD.

Data from Saylortracker The strategy shows 553 555 BTC. It makes the largest business company holder Bitcoin.

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